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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
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